Abstract

Using pseudo-panel microdata we show that pension generosity affects early retirement decisions. The changes in the average replacement rate and decreases in wealth accrual between 1967 and 2004 have caused an increase in early retirement probabilities from 16% to 63%.

Item Type:

MPRA Paper

Original Title:

The Effect of Pension Generosity on Early Retirement: A Microdata Analysis for Europe from 1967 to 2004.